Ninety One says no to Heineken’s ‘unfair’ offer for Distell
Asset manager will vote against buyout offer, but deal still poised to get over the line
14 February 2022 - 22:50
Ninety One, SA’s largest asset manager, will vote to oppose the Heineken buyout of Distell on Tuesday, saying the price is too low and unfair to pension fund holders, who are forced to sell out rather than remain in an unlisted company.
European brewer Heineken made an R180 a share offer for SA’s biggest alcohol producer, which has had great success in Kenya, Mozambique and Nigeria and is well positioned to keep growing on the continent as more women drink alcohol, specifically ciders such as Distell’s Hunters...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.